EURUSD LONG TO 1.4440 then short retracement

24 giu 2019

EURUSD looks to have broken and retested a channel as well as forming an ABCD pattern. My TP is at 1.4440, because the D wing of the harmonic pattern meets up with an area of resistance. After price reaches 1.4440, I will hold 3 smaller short positions for a 38.2%, 50.0%, and 61.8% fib retracement. This is because of the retracement that occurs as a result of the completion of the harmonic pattern. After each tp gets hit, I will move the SL to break even to avoid loss. The 61.8 retrace is where price should reverse ultimately for a long term buy position.